January 16, 2020 / 6:58 AM / 13 days ago

Nivea-maker Beiersdorf optimistic for 2020 despite slowdown

BERLIN, Jan 16 (Reuters) - German consumer goods firm Beiersdorf said it was “cautiously optimistic” for 2020 despite reporting another quarter of slowing sales growth for its skincare and adhesives units.

The company reported group organic sales growth slowed to 4.1% for 2019 from 4.3% for the first nine months, with annual sales coming in at 7.653 billion euros ($8.53 billion), roughly in line with analyst consensus.

“We see good potential and opportunities which we will fully leverage with further investments,” Chief Executive Stefan de Loecker said in a statement.

“Even though we expect headwinds in the 2020 financial year... we ... are looking forward to the fiscal year ahead with cautious optimism,” he said. ($1 = 0.8971 euros) (Reporting by Emma Thomasson, editing by Riham Alkousaa)

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